March 29, 2024
Volume XIV, Number 89
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Top 2 Challenges for Small Law Firms: Time & Money [INFOGRAPHIC]
Thursday, August 18, 2016

Earlier this week, I wrote about the results from a recent Thomson Reuters survey in a post entitled, Top 5 Challenges Solos & Small Firms Face.  The second most pressing problem was time spent by small firm attorneys on administrative tasks — almost 40% of a small firm lawyer’s day will be spent on doing something other than practicing law.  If you bill $200/hour, you are losing $640 a day on stuff you can’t bill for — and that really adds up!

The infographic below shows the primary pressure points facing small law firms and solos today.  The good news is that you can solve many of these issues with the strategic use of technology.   For example, document management is a big issue for law firms and I’m not just talking about the cost of all that paper, printing, copying, etc. 

Top 2 Challenges for Small Law Firms: Time & Money

 

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